The City of Burnaby is steps closer to entering into a housing agreement with the L’Arche Foundation of Greater Vancouver regarding a non-market housing development.
The city is now in the process of securing the non-market or special needs housing through a housing agreement, which is a legal tool that secures details like “rent levels, income-testing requirements and target populations,” according to a city staff report. L’Arche will rent 22 of its units at deep subsidy rates, and 24 units at rent-geared-to-income rates for low income households earning at or below BC Housing’s housing income limits.
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